Cedar-IBSi Capital onboards institutional investors and family offices ahead of Final Close; Eyes positioning of being one of the only few FinTech funds in the region

By Puja Sharma

Cedar-IBSi Capital is now one of the region’s only pure-play specialist FinTech funds, with a focus on B2B financial infrastructure companies. The fund is currently backed by multiple institutional investors, including Muthoot Finance, IIFL Capital and a prominent Middle East Royal family office. The fund has raised 60% of the 175cr fund target corpus.

Mumbai, August 19, 2025 – FinTech specialist investor Cedar-IBSi Capital, focused on B2B financial infrastructure companies, has secured strong backing from leading institutional investors and over 20 family offices as it prepares to close its debut fund in the coming months. The fund has raised commitments worth ~₹100 crore with additional soft commitments worth ₹10–15 crore and is confident of marking a Final Close in the coming months.

The fund’s institutional investors include Muthoot Finance, IIFL Capital, and an undisclosed Middle East royal family entity to be announced soon. Family office backers include Apar Industries, Varroc Engineering, the Taparia family, Dr. Reddy’s family office, among others. The fund has drawn strong interest from Tier 1 institutions and prominent family offices due to its FinTech specialist expertise, the strategic advantages of co-investment opportunities, deep ecosystem access via the wider Cedar platform, and its unique positioning as one of the few FinTech-focused specialist funds in the region.

“We will mark our final close sometime in January. Despite a challenging fundraising environment for emerging managers globally, our sector-specialist expertise and sharp B2B FinTech focus have helped attract Tier-1 LP capital in India and internationally,” said Sahil Anand, Founder & Managing Partner, Cedar-IBSi Capital.

As one of the region’s few pure-play FinTech funds, Cedar-IBSi Capital is capitalising on the growing demand for new-age banking and financial infrastructure technology. “A lot has happened in B2C FinTech in recent years, but CTOs and technology leaders at financial institutions are now ready for a similar transformation in banking infrastructure software. Indian B2B FinTech vendors, due to their geography-agnostic and non-regulatory solutions, have the opportunity to scale internationally, and we are excited to be their partner in this journey,” Anand added.

The fund invests in Pre-A and A rounds, typically coming in as the first institutional investor. Initial investment cheques range between $500k–$1 million, with sufficient reserves kept for follow-on investments beyond simple pro-rata.

Cedar-IBSi Capital aims to build a portfolio of 10–15 companies over the life of the fund, with initial checks expected to be deployed by Year 5. So far, it has invested in Cogniquest, an intelligent document processing company, and WonderLend Hubs, a cloud-based incentive compensation software provider. A third investment will be announced soon, with the fund actively evaluating multiple opportunities in the AI-for-Financial-Services space.

The fund has access to a strong proprietary pipeline, with 15–20 companies discovered weekly through its network, owing to the experienced team and the strong reputation of the Cedar platform and its FinTech Lab.

About Cedar-IBSi Capital

Founded in 2024 by Sahil Anand, Cedar-IBSi Capital is an independent FinTech-focused investment fund built on the legacy of Cedar Consulting and IBS Intelligence’s global research and management consulting expertise. The fund invests in B2B FinTech companies developing software infrastructure for the global banking and financial services industry.  Website: https://cedaribsicapital.vc/

Media Inquiries:

Ojas Kulkarni, Chief Marketing Officer

ojas@cedaribsicapital.vc | +91-9820081489